Senior housing average daily census rates within Irvine, CA-based Healthpeak Properties fell to 76.8% in August, dropping 0.9% compared with July, according to an investor presentation posted by the real estate investment trust Thursday. The decline actually was significantly smaller than the firm’s prediction of a 1.5% drop in August.
Within the REIT’s continuing care retirement community portfolio, which includes skilled nursing, however, overall average daily census rates increased 0.6% over July, hitting 79.7%. The increase was driven by improvements in SNF occupancy rates, which increased 4.9% over July, the firm reported.
Healthpeak also announced that it collected 97% of its August rent and that total expenses had declined 2.5% compared with the firm’s original expectations for the month.
“The decline in expenses was driven by lower than expected compensation and COVID-related expenses,” the firm said.
Welltower also reported slight occupancy declines within its senior housing portfolio for the month of August. According to a company presentation posted Thursday, the Toledo, OH-based REIT saw August occupancy rates drop 0.5%, to 78.9% overall. The firm reported that it has seen a 194% increase in move-ins between April and August, however, and a 30% decline in move-outs between March and August. Welltower collected 98% of August rent from its triple-net lease portfolio.